Base (BASE) Seeking to Issue Korean Won Stablecoin?

Doohyun Hwang

Summary

Base (BASE), operated by Coinbase, indicated the possibility of issuing a stablecoin based on local currencies such as the Korean Won (KRW).
Base considers bringing local currencies on-chain as the next growth opportunity, and has included the Korean Won among the currencies with significant potential.
Base also signaled its intention to seek compliant and trustworthy local stablecoin issuers in Korea and other countries.

Coinbase-operated Ethereum (ETH) Layer 2 blockchain 'Base (BASE)' has hinted at the possibility of issuing stablecoins based on local currencies, including the Korean Won (KRW). The move is driven by the belief that bringing local currencies on-chain in the global market presents the next growth opportunity.

On the 21st (local time), Base announced on its official X account, "Over the past few years, builders have created products using local currencies, grown communities, and established real use cases," adding, "There is still much ground to cover." The blockchain identified the Korean Won, Japanese Yen, Thai Baht, Vietnamese Dong, Indian Rupee, Pakistani Rupee, Malaysian Ringgit, Egyptian Pound, and Iraqi Dinar as currencies with significant potential opportunities.

Jesse Pollak, a builder at Base, also commented, "We are looking for compliant and trustworthy local stablecoin issuers in countries like Korea and Japan," emphasizing, "The global economy needs to work for everyone, everywhere." Although there was no direct mention of issuing a Korean Won stablecoin, it demonstrated the intention to seek local partners regarding major Asian currencies, including Korea.

BASE